AMAT, ONTO and BSET made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 7, 2026.

On July 02, 2026, Onto Innovation Inc (ONTO) shares fell by 12.5%, bringing the current price to $307.58. The stock has experienced a significant 52-week range,

Onto Innovation's 25.5% rally reflects AI-led demand, advanced packaging gains and new product momentum, but rich valuation raises questions about the next move.

Chip company Onto Innovation, Inc. (ONTO) up 238% in a year from AI demand.

In the latest trading session, Onto Innovation (ONTO) closed at $323.92, marking a -5.9% move from the previous day.

Onto Innovation which has surged by over 260% and has outperformed the Russell 1000 by 10x over the past year, is still deemed worthy of a buy rating. ONTO is positioned across front-end and back-end semiconductor manufacturing, with over 60% of revenue now AI compute-related, with >$1B worth of opportunities ahead. Operating margins which are at 26.7% are poised to expand to 30% by the end of the year, as advanced node opportunities pick up.

On June 23, 2026, Onto Innovation Inc (ONTO) shares fell 9.2% today, closing at $315.88. This move comes after a strong year of performance, with shares up 236.

Onto Innovation and KLA are riding AI-driven chip demand, but their growth paths, valuations and advanced packaging exposure differ.

ONTO is benefiting from AI-driven advanced packaging demand with Dragonfly G5 adoption, expanding customer wins and a pipeline targeting new market share.

Onto Innovation (ONTO) closed at $316.15 in the latest trading session, marking a -5.9% move from the prior day.